In-Depth Analysis
Zimbabwe
External factors have continued to place added pressure on an already strained economy. Zimbabwe once again faces a period of extreme macroeconomic instability as political fragilities have seen the economy come undone again. Inflation is running rampant, the local currency struggles to gain traction, and nearly the entire country is out of formal employment.
Zimbabwe is in the midst of severe economic headwinds and macroeconomic stability continues to allude the nation. Inflation is running rampant, the local currency is in a free fall, nearly the entire country is out of formal employment and food remains scarce. We have revised our 2020 GDP forecast and expect the economy to contract by 15%. There is little prospect of a major improvement to Zimbabwe’s economic and financial challenges in the short- to medium term and the measures in place designed to improve prospects are likely to have negative social consequences with increasing risk to political instability. (Source: Zimbabwe Annual Country Profile, published November 2020)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-3.5 |
|
Consumer Price Index (% change y-o-y, avg) |
255.4 |
|
Current Account Balance (as a % of GDP) |
-3.8 |
|
Real GDP (annual % change) |
-6.6 |
|
GDP per Capita, US$ |
1,660.5 |
|
Import Cover (months) |
0.3 |
|
Population, million |
14.7 |
| Total External Debt (as a % of GDP) |
50.4 |